Consumers are embracing technology to perform a variety of transactions with enterprises. Mobile phones have allowed consumers to perform transactions on the go with enterprises, such transactions used to be reserved for desktop computers having largely wired connections to the Internet for accessing the retailer-based systems.
Some technology, in recent years, permits customers to pre-stage Automated Teller Machine (ATM) transactions, such that a customer can setup an ATM transaction, receive a transaction code, and later present the code at an ATM to dispense cash for completing the transaction. However, there are security and usability issues associated with such techniques.
For example, these approaches rely solely on a transaction number (which is not secure at all should that number be compromised) or these approaches also necessitate that a consumer enter a Personal Identification Number (PIN) as a second form of authentication (multifactor authentication) when combined with the transaction number (which hinders the usability and increases the time for consummating the transaction).